Quote Originally Posted by Willi View Post
My book, ie. my head is screwed on just right.
JUNK bonds are a non-investment grade bond, by any brokers definition.
They have a very HIGH default risk, they are HIGHLY speculative.
A default due to bankruptcy - kills the bonds value entirely

Syner pulled a fast one on ALL the residents of this state.

Correct, junk bonds are not investment grade to investors. They also have a high rate of default.

DWSD bonds, however have the backing of the DWSD revenue stream. The bonds themselves were not being reduced in the Detroit bk as they are secured with the revenue from ratepayers/dwsd.

So, again, how are the residents of Michigan on the hook for anything? Perhaps it may help if you get your tinfoil hat out first.